Deck 20: Managing Marketing Research

Question 1

A major problem with the effective use of marketing research information is that different marketing managers use and value research information differently.

Answer 1

True

Question 2

What is the general rule for selecting a marketing research supplier?

A)Choose the least expensive supplier and,if the project's needs exceed their abilities,move to the next supplier.
B)Choose the smallest firm consistent with the scope of the project,as long as the project is not more than 30% of the supplier's annual revenues.
C)Choose the vendor that has the best reputation.
D)Choose the smallest firm consistent with the scope of the project,as long as the project is not more than 15% of the supplier's annual revenues.
E)There is no general rule.

Answer 2

B

Question 3

Which of the following are benefits of quantifying the economic value of research?

A)Increased credibility with senior management and other functional areas
B)Increase focus on the factors in the processes that drive the most economic value
C)More ammunition in defending the research budget
D)Better prioritization and allocation of research resources
E)All of the above

Answer 3

E

Question 4

Research management involves overseeing the development of:

A)communication systems.
B)schedules
C)client profitability
D)all of the above
E)none of the above

Question 5

Top management's support and approval of marketing research has little to do with how effectively the results of the report are utilized by middle marketing managers.

Question 6

Captive outsourcing is:

A)when a research firm outsources to a firm in a small,developing country.
B)when a research firm creates a wholly-owned foreign facility for outsourcing.
C)outsourcing to prisoners held against their will.
D)outsourcing to a third-party provider.
E)the most cost efficient way to hire a market researcher staff.

Question 7

The best project manager does all of the following except:

A)Lets the client define all the research objectives and design on his/her own
B)Executes the project flawlessly
C)Monitors the project closely
D)Delivers beyond expectations
E)Provides insights about the findings

Question 8

Ways of retaining skills staff include:

A)conducting regular performance reviews
B)giving pay raises in spite of below average performance
C)giving staff a variety of work tasks
D)A and B only
E)A and C only

Question 9

The key to good supplier-client relations is ____________.

A)hard work
B)communication
C)a fair price
D)positive results
E)keeping the project on schedule

Question 10

To increase a client's ROI,a marketing research firm can:

A)invest more in research
B)invest less in research
C)reduce the anticipated dollar value of the decision based on the research
D)invest more in advertising
E)enter a riskier new market

Question 11

Good procedures for cost control include all of the following except:

A)Systems that accurately capture data collection and other costs associated with the project on a daily basis.
B)Policies and practices that quickly identify overbudget situations and then find causes and seek solutions.
C)Daily reporting of costs to the communication liaison.
D)Policies and practices that find and account for underbudget situations.
E)Policies and practices in the research organization that require the liaison to communicate the budget picture to clients and to senior managers at the
Research company.

Question 12

The key to staying on the acceptable vendor lists is in the contribution a supplier makes to the company.This means understanding _______________.

A)The client's industry
B)The tracking of industry trends
C)Customization of offerings to meet client's unique needs
D)All of the above

Question 13

Which of the following is a reason marketing research information may not be used effectively?

A)Managers in the same business for a long time think they know customers' markets in depth.
B)Some managers are skeptical of new information and see it as a threat to their authority.
C)Some managers have a pro-innovation bias and are likely to try anything new.
D)all of the above
E)none of the above

Question 14

Which of the following is NOT one of the goals of research management?

A)stay on schedule
B)manage client profitability
C)develop staff
D)meet potential new clients
E)build an effective organization

Question 15

Which of the following is not a key factor in the effective use of marketing research information?

A)perceived credibility of the report by users
B)perceived usefulness of the report by users
C)degree of client/researcher interaction
D)perceived credibility of the user of the report
E)All of the above are key factors in the effective use of marketing research information.

Question 16

Cost-plus projects are typically found in situations where:

A)the researchers are required to travel.
B)a research firm is recognized as providing high-quality output.
C)a client requires frequent progress reports.
D)a research department of a large corporation conducts a project for another department.
E)a research firm's fees fall within the 90^th percentile.

Question 17

Which of the following was perceived as the most important interpersonal factor between marketing research suppliers and users?

A)perceived integrity of the researcher
B)perceived ability of the researcher
C)amount of client interaction
D)ability of the researcher to interpret the data in a user-friendly manner
E)All of the above are equally important.

Question 18

Low involvement by a client with a marketing research supplier may result in the results of a marketing report not being used.

Question 19

___________ is newer knowledge that has the potential to create significant marketing impact.

A)Innovation
B)Insight
C)A & B
D)Neither A nor B

Question 20

Which of the following is not a suggestion given for staff development in a research firm?

A)Foster recognition and accountability.
B)Connect rewards to a business result.
C)Create an environment that encourages perfection.
D)Attract and support people with entrepreneurial attitudes.
E)Provide job autonomy within a certain structure.

Question 21

Incidence rate problems increase the amount of time required to complete the sample of a project,but can also lower the cost of data-collection.

Question 22

Asking a client for their budget on a project helps the research firm to learn what the client has in mind.

Question 23

Asking a vendor for the academic background and experience of the persons slated to work on the project is considered unprofessional.

Question 24

Encouraging risk taking among marketing research staff can pay off if the risks are measured,but employees should also be strongly cautioned.

Question 25

By reducing the organizational distance between the client and staff members,it is easier for them to appreciate the client's situation and focus on serving his or her needs.

Question 26

In the context of moving marketing research more into a decision making role,rather than purely a staff/support function,define the following 3 terms:
a)Insight
b)Innovation
c)Creativity

Question 27

If a marketing research firm plans to subcontract any part of a project,it's better not to give this information to the client.

Question 28

Describe CRI's Client Profitability Analysis and how it is used in their business.

Question 29

The two most important things a client wants in a vendor are confidentiality and honesty.

Question 30

Time management is important in marketing research because clients often have a specified time schedule that they must meet.

Question 31

The text lists 10 things that clients want from the marketing research supplier.However,the discussion is expanded to include "Making Difficult Clients Happy." Summarize what it takes to "Make Difficult Clients Happy."

Question 32

The least important objective of research management is to ensure the quality or integrity of the data produced by the research process.

Question 33

To get the attention of senior management,researchers must move beyond crunching numbers to analyzing the information and providing results.

Question 34

What is a recent trend with regard to outsourcing versus insourcing marketing research services?

Question 35

A 66 percent majority of adults believe,wrongly,that the phrase "margin of error" includes calculation of errors caused by how the questions are worded.

Question 36

Outsourcing is becoming a popular way for research firms to cut costs.

Question 37

Employee liability is an important issue when a research supplier outsources to third-party providers.

Question 38

Imagine you are responsible for your research department budget.What steps would you take to make sure the funds are allocated wisely?